Connor Clark & Lunn Investment Management Ltd. Acquires 62,557 Shares of Alkami Technology, Inc. $ALKT

Connor Clark & Lunn Investment Management Ltd. grew its stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 65.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,806 shares of the company's stock after acquiring an additional 62,557 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.15% of Alkami Technology worth $4,142,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Amalgamated Bank raised its stake in Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after buying an additional 704 shares during the period. GAMMA Investing LLC raised its stake in Alkami Technology by 1,386.9% in the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company's stock valued at $288,000 after buying an additional 10,235 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Alkami Technology by 2.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company's stock worth $1,535,000 after acquiring an additional 1,166 shares during the period. Bank of America Corp DE boosted its holdings in shares of Alkami Technology by 7.1% during the fourth quarter. Bank of America Corp DE now owns 229,629 shares of the company's stock worth $8,423,000 after acquiring an additional 15,293 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Alkami Technology by 10.1% during the fourth quarter. Nuveen Asset Management LLC now owns 437,521 shares of the company's stock worth $16,048,000 after acquiring an additional 40,106 shares during the period. Institutional investors own 54.97% of the company's stock.

Alkami Technology Price Performance

NASDAQ:ALKT traded down $0.49 during trading hours on Monday, reaching $22.59. 447,828 shares of the company were exchanged, compared to its average volume of 1,187,856. The business has a 50 day moving average of $27.03 and a 200 day moving average of $27.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. Alkami Technology, Inc. has a 1-year low of $19.94 and a 1-year high of $42.29. The company has a market capitalization of $2.35 billion, a P/E ratio of -59.48 and a beta of 0.57.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 20,365 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $577,551.40. Following the completion of the transaction, the chief financial officer directly owned 430,255 shares of the company's stock, valued at $12,202,031.80. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Linebarger sold 7,170 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $203,341.20. Following the transaction, the insider directly owned 238,172 shares of the company's stock, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,396,162 shares of company stock worth $29,692,440 and sold 27,690 shares worth $785,288. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ALKT shares. Needham & Company LLC reduced their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective for the company. JMP Securities reissued a "market outperform" rating and set a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Finally, Lake Street Capital reduced their price target on Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

Alkami Technology Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.